Best Finance Company registers 123% growth in net profits for the third quarter; net interest income increases by 620%

Best Finance Company (BFC) has published its unaudited financials for the third quarter of the fiscal year 2075/76.

The net profit of the company has increased massively by 123% from Rs 3.46 crore in the corresponding quarter of the last fiscal year to Rs. 7.73 crore till Chaitra in Q3 of FY 2075/2076. However, negative reserve has increased by 22.65% to Rs 10.49 crore from Rs 8.55 crore in the corresponding quarter of last FY.

The finance company has collected a total deposit of Rs 2.28 arba which has increased from deposit of Rs 18.76 crore in corresponding period of FY 2074/2075. 

The bank has floated Rs 2.18 arba as loans and advances for the third quarter of the FY 2075/76 – an increment from Rs 25.38 crore posted in the last year’s corresponding quarter. Net interest income of the company has increased by 620% in this quarter to Rs 10.71 crore from Rs 1.48 crore in the corresponding quarter of last fiscal year.

The Non-Performing Loan (NPL) of finance company has decreased to 16.95% in this quarter from 58.20% in the corresponding quarter of last FY. EPS stands at Rs. 9.54 and P/E ratio at 10.02 times.

Earlier, Best Finance Company had acquired National level based Synergy Finance Limited at 1 :1 swap ratio. That is why there is such huge variation in most of the indicators mentioned in the published report.